Examlex
The mathematical term ∑x is the numerator for
Loan Payment
A payment made by a borrower to a lender that may include both the principal and interest.
Effective Annual Rate
The interest rate on a loan or financial product restated from the nominal rate as an annual rate, including any compounding that occurs during the year.
APR
Annual Percentage Rate, a measure that reflects the annualized cost of borrowing including interest and other fees, making it easier to compare different financial products.
Rate of Compounding
The frequency with which interest is added to the principal balance of an investment, which can significantly affect the total interest earned or paid.
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